Managing Supplier Relationships
Suppliers affect stock, pricing, cash flow and customer service. Good supplier management helps the business run smoothly.
Keep supplier details
Record supplier names, contacts, products supplied and payment terms.
Track supplier bills
Unpaid supplier bills should be visible so the business does not get surprised later.
Check deliveries
Always compare delivered items with what was ordered or invoiced.
Review supplier performance
Price, reliability, quality and delivery speed all matter.
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